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The auto industry is now feeling the weight of the ongoing C-19 pandemic, with veteran automakers Volkswagen and Daimler announcing they will be suspending production in their European facilities. 

Car dealerships are expecting to feel the pinch from coronavirus control policies as U.S. state governments have begun calling for lockdowns of walk-in businesses. Dealers, like other retail outlets, will begin to see the impacts of social distancing in the coming weeks.

Due to the worsening situation of the COVID-19 pandemic, the Daimler Group decided March 17 to suspend the majority of its production in Europe, as well as work in selected administrative departments, for an initial period of two weeks.

The last month’s all-but-unprecedented plunge in market confidence has prompted the Federal administration to request $850B in support for the economy including $50B for the airline industry and $250B for small business loans. The macro impact to the economy of all the closures is being played out in business pressure on companies large and small. 

In recognition of Women’s History Month, the Automotive Industry Action Group (AIAG) is celebrating the extraordinary achievements of women who volunteer their time and expertise at the organization in support of the automotive industry. 

ALG, a subsidiary of TrueCar, and the industry benchmark for determining the future resale value of a vehicle, is providing an updated 2020 new vehicle sales forecast to account for the quickly evolving Coronavirus pandemic and the latest economic outlook.

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